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Roche books 13% rise in Q3 sales, raises 2019 sales outlook

Roche Holding AG said its third-quarter sales grew 13% year over year and raised its outlook for the full year.

The Basel, Switzerland-based pharmaceutical and diagnostics company's group sales reached about CHF15.60 billion for the third quarter, up from CHF13.97 billion in the year-ago period.

The S&P Global Market Intelligence consensus third-quarter revenue estimate is about CHF15.08 billion.

Third-quarter sales from the company's pharmaceuticals division reached CHF12.37 billion, up 15% year over year from CHF10.86 billion. Roche's diagnostics division also saw a 6% year over year growth in sales to CHF3.23 billion.

For the nine months ended September, sales reached CHF46.07 billion, up 10% at constant exchange rates from CHF42.08 billion a year ago.

Multiple sclerosis drug Ocrevus, hemophilia therapy Hemlibra and cancer drugs Tecentriq, Perjeta and Avastin were key growth drivers for the first three quarters of 2019.

The company raised its full-year 2019 sales outlook and now expects full-year sales to grow in the high single digit range at constant exchange rates compared to a previous expectation of growth in the mid- to high single-digit range at constant exchange rates.

Core EPS is still expected to grow broadly in line with sales at constant exchange rates and the company expects to further increase its dividend in Swiss francs.